Rupee at one week low vs dollar; falls by 20 paise to 62.51

Mumbai: The rupee continued its downslide for the second session in a row, depreciating by 20 paise to close at more than one-week low of 62.51 against the greenback following sustained dollar demand from importers amid strong overseas demand. However, smart rise in local equities amid sustained capital inflows tried to restrict the fall, a dealer said.

At the Interbank Foreign Exchange (Forex) market, the domestic currency commenced slightly lower at 62.33 per dollar from last weekend's close of 62.31 and immediately touched a high of 62.32. Later, it met with strong resistance and fell back to a low of 62.5650 before concluding at 62.51, exhibiting a fall of 20 paise or 0.32 per cent. Continued dollar buying by importers amid strong greenback overseas mainly weighed on the rupee.

The dollar index, a gauge of six major global rivals, was up by 0.58 per cent on April 13. The benchmark BSE Sensex on April 13 bounced by 165.06 points or 0.57 per cent to cross 29,000-mark after more than one month. Foreign Portfolio Investors infused Rs 362.79 crore last Friday, as per provisional data